COVID-19 insurance News

Cathay Pacific Collaborates with AXA to Provide Free COVID-19 Insurance to Passengers

Cathay Pacific is collaborating with AXA General Insurance Hong Kong Ltd. to provide free COVID-19 coverage to all passengers. Customers who fly with Cathay Pacific from Dec. 7 to Feb. 28, 2021 will be covered for medical expenses related to …

How Lloyd’s Underwriters Are Viewing Today’s U.S. Property Insurance Environment

While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may be auspicious. Had the outbreak struck …

I’m From the Government and I’m Here to Help – Part 4

This is the conclusion of my series of posts about the different bills that states have put forward to force insurance companies to provide business income coverage for losses related to COVID-19. Insurers look for other areas to write business, …

I’m From the Government and I’m Here to Help – Part 3

This is third in a series of posts where I plan to respond to the bills that several states have filed to force insurance companies to pay business income claims related to COVID-19. Not reimbursing insurers means higher rates for …

I’m From the Government and I’m Here to Help – Part 2

This is the second in a series of posts where I am responding to certain pending legislation geared toward forcing insurance companies to pay for claims for losses related to virus and pandemic. Assessing insurers means assessing insureds Each of …

I’m From the Government and I’m Here to Help – Part 1

This is the first in a series where I intend to respond to pending legislation intended to force insurance companies to make loss related to virus or pandemic a covered cause of loss. There is a great temptation in the …

New Business Interruption Insurance Poses Risks to Chinese Insurers, Says Fitch

At the direction of the Chinese government, domestic insurers started selling business interruption insurance to cover Chinese enterprises against disruptions from the coronavirus outbreak, which may have unintended consequences. Fitch Ratings cautions that the move could pose risks to the …

AIR Worldwide Launches Free COVID-19 Catastrophe Modeling Tool

AIR Worldwide has launched a free COVID-19 catastrophe modeling tool, one that predicts cases and offers death projections for the weeks ahead. The company said its Verisk COVID-19 Projection Tool, designed with AIR’s pandemic modeling data, will provide COVID-19 case …

Florida Directs Workers’ Comp Insurers to Comply with COVID-19 Treatment Order

The Florida Office of Insurance Regulation has issued an informational memorandum to all insurers and entities authorized to write workers’ compensation insurance providing guidance on the treatment of policyholders affected by COVID-19. The memorandum is in response to Chief Financial …

Anticipated Coronavirus Claims Scenarios Across Major Coverage Lines: Viewpoint

As the COVID-19 pandemic has progressed over the past several months, participants in the insurance industry have recognized the likelihood of a resulting increase in claims volume. Much of the early focus has been on the ramifications to insurers that …